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Shell Signs Agreement for biofuel technology

CALGARY, June 27, 2017 /CNW/ – Royal Dutch Shell plc, through its subsidiary Shell International Exploration and Production B.V. (“Shell”), and SBI BioEnergy Inc. have reached an agreement granting Shell exclusive development and licensing rights for SBI’s biofuel technology. Edmonton-based SBI has a patented process that can convert a wide range of waste oils, greases and sustainable vegetable oils into lower carbon drop-ins for diesel, jet fuel and gasoline. Under the agreement, Shell and SBI will work together to demonstrate the potential of the technology and, if successful, scale up for commercial application.

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Russia’s Pipeline Play Has Eastern Europe On Edge

By Gregory Brew – Jun 27, 2017, 4:00 PM CDT

Russia has been a major energy supplier to the European market for decades, and is looking to expand its dominance with a new pipeline that could feed natural gas directly to the continent’s biggest economy.

A deal on Nord Stream 2, a gas pipeline that will link the Ust-Luga area west of St. Petersburg directly with Germany, was signed by Russian energy giant Gazprom in late April. If completed, the pipeline would give Russia more than fifty percent of the Germany gas market and potentially increase its share of markets throughout Central and Western Europe. The pipeline is set to be completed in 2019 and is supported by joint-funding from five European energy companies, including Royal Dutch/Shell, Uniper and ENGIE.

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Big Oil: Surviving at $40, Thriving at $60

By Ben Levisohn:  The price of oil is rising today, but that hasn’t helped oil stocks like ExxonMobil (XOM), Chevron (CVX), Total (TOT), and Royal Dutch Shell (RDS.A), which remain little changed or under pressure. The International Integrateds and Majors can survive in a $40-50/bbl oil price range, in our view; however, we continue to see >$60/bbl required for them to thrive. We expect companies to continue pulling on all operational and financial levers in order to adjust to the oil price reality…

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Canada M&A Hits Decade-High as Foreign Owners Flee Oil Sands

Mergers and acquisitions in Canada are set for the strongest start in a decade as foreigners sell their oil sands investments. ConocoPhillips and Royal Dutch Shell Plc are leading the exodus amid a bear market for crude. However, Canadian producers are responding by pumping money into oil deposits in the remote boreal forests, which trail only Saudi Arabia and Venezuela in proved reserves but are more expensive to extract.

FULL ARTICLE

Shell CEO, board of directors visit Beaver County

POTTER TWP. — The chief executive officer and a majority of the board of directors of Royal Dutch Shell were in Beaver County Monday to view the ethane cracker plant site, but also to talk to local leaders about their experiences with the $6 billion project.

Rebecca Matsco, chairwoman of Potter Township’s supervisors, was one of the local leaders in attendance and said Monday afternoon that it was a chance “to share our experiences of the last several years.”

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Shell in clean energy race

It wants to be leader in the business and establish itself across full value chain of renewables, alternative energies

Royal Dutch Shell aims to be a leader in clean energy and sees an opportunity in using its global presence and established brand to scale up the new energies business quickly as and when. PHOTO: REUTERS

ROYAL Dutch Shell aims to be a leader in clean energy and sees an opportunity in using its global presence and established brand to scale up the new energies business quickly as and when.

The second largest-publicly traded oil company in the world also plans on establishing itself across the full value chain of renewables and alternative energies as it has done for oil, said a senior executive in the firm.

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In Disaster’s Wake, BP Doubles Down on Deepwater Despite Surging Shale

Majors including Exxon Mobil Corp, Chevron Corp and Royal Dutch Shell have maintained Gulf operations but focused expansions on U.S. shale.

THUNDER HORSE OIL PLATFORM, Gulf of Mexico — About 300 BP workers commute 150 miles here by helicopter, from the Louisiana coast to a deep-sea drilling platform that can produce more oil in a day than a West Texas rig can pump in a year.

On the deck of Thunder Horse, they work two-week shifts, drink seawater from a desalination plant, and eat ribs and chicken ferried in by boat. On the ocean floor, robots provide remote eyes and arms as drills extract up to 265,000 barrels per day.

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China pumps cash into African floating LNG projects in strategic push

The $12.6 billion Prelude project, which is due to start operating off Australia in 2018, is typical of those conceived during the era of high energy prices.

By Oleg Vukmanovic and Colin Leopold | LONDON

China plans to pour almost $7 billion into floating liquefied natural gas (FLNG) projects in Africa, betting on a largely untested technology in the hope that energy markets will recover by the time they start production in the early 2020s.

Western banks are wary due to the depressed state of the shipping and gas markets, as well as the technical difficulties of pumping gas extracted from below the ocean floor, chilling it into liquid form on a floating platform and transferring it into tankers for export.

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Dutch Quakes Rattle Exxon, Shell — WSJ

Big gas field is causing tremors, exposing energy firms to criminal probe and rising bills

By Sarah Kent Dow Jones Newswires

GRONINGEN, The Netherlands — For decades, the giant Groningen gas field beneath the flat, green farmland in the north of this country counted among the greatest prizes for Exxon Mobil Corp. and Royal Dutch Shell PLC. Then the earthquakes started.

Shell and Exxon are pushing back through their joint venture, Nederlandse Aardolie Maatschappij BV or NAM.

NAM said it is considering formally contesting the government’s decision. It also expressed surprise at the Dutch court order to the prosecutor to open a criminal investigation this year…

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Quakes Giving Dutch Province ‘A Makeover We Don’t Want’

Quakes Giving Dutch Province ‘A Makeover We Don’t Want’

By Sarah Kent Dow Jones Newswires

GRONINGEN, The Netherlands — Irma de Joode was talking on the phone with her brother when she heard what sounded like rolls of thunder and felt her entire house jump beneath her feet. The Aug. 16, 2012, earthquake was the biggest ever to rock the flat, green plains of this northern Dutch province. The source was Europe’s biggest natural gas field. The earthquake was one of more than 300 temblors since 1991 that Royal Dutch Shell PLC, Exxon Mobil Corp. and the Dutch government acknowledge were caused by their activities at the Groningen gas field.

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Does sub-$50 oil mean Royal Dutch Shell plc’s dividend will be cut?

By  24 Jun 2017, 8:57

At the end of last year, when it looked as if OPEC was making a concerted effort to rein-in oil market oversupply, shares in Royal Dutch Shell(LSE: RDSB) charged to a 52-week high of just under 2,400p. Unfortunately, this rally didn’t last long. By the end of the first quarter, the shares had fallen by nearly 10% and have continued to slide as worries about a new oil glut have continued to grow. The falling oil price has reignited the argument about the sustainability of Shell’s dividend payout.

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Shell ‘shells out’ $75 a foot for pipeline easements


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Court records suggest that Shell’s latest pipeline easement agreements in Pennsylvania will cost $75 a foot to carry ethane to its new ethane cracker facility.

Jun 23, 2017

Foot by foot, Shell Pipeline Co. is getting landowners in Beaver County, Pa., to sign easements for its 94-mile Falcon Ethane Pipeline. It’s a pipeline with two “legs” that will feed Shell’s ethane cracker plant now under construction at Monaca, Pa., northwest of Pittsburgh.

In early 2016, the Royal Dutch Shell affiliate began signing leases with landowners for the pipeline branches stretching into Ohio, Pennsylvania and West Virginia. See map. More easements were signed in January and May.

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Shell’s $1 Billion New Zealand Sale Said to Draw OMV, Vermilion

By Brett Foley , Perry Williams , and Scott Deveau
23 June 2017, 04:47 BST

Royal Dutch Shell Plc’s sale of its remaining New Zealand energy assets has drawn interest from companies including OMV AG and Vermilion Energy Inc., people with knowledge of the matter said.

Vermilion has been talking with potential financial partners about bidding together for Shell’s stakes in two New Zealand gas fields, one of the people said. Smaller local energy companies including Greymouth Petroleum Ltd. have also been considering teaming up with other investors for joint offers, the people said, asking not to be identified as details are private. The assets could fetch as much as $1 billion, the people said.

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Shell Company Firmly Integrated in Russian Economy, PM Medvedev Says

Russian Prime Minister Medvedev on Wednesday congratulated the Royal Dutch Shell company on the occasion of its 125th anniversary of working in Russia, and stressed that the company is deeply integrated in the Russian economy and is one of Russia’s main foreign investors.

23 June 2017

MOSCOW (Sputnik) — Earlier in the day, Russian President Vladimir Putin held a meeting with Royal Dutch Shell CEO Ben van Beurden to discuss the plans regarding the company’s future work in Russia, including the construction and financing of the Nord Stream 2 gas pipeline project.

“Today Shell is firmly integrated into our national economy and is one of our biggest foreign investors. Its companies and joint ventures are involved in various business areas: from exploration and production of mineral resources to the manufacture of fuel and lubricants and their sale at filling stations,” Medvedev wrote in a letter released by the government.

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India’s LNG-led gas market may grow over 6 times by 2030: Royal Dutch Shell

Shine Jacob  |  New Delhi  June 22, 2017 Last Updated at 15:47 IST

Global oil major says that India may see at least six times growth in by 2030 from the current levels. It adds that liquefied natural gas (LNG) may be the largest contributor to it. The prediction comes at a time when India is trying to increase the share of gas in the overall energy mix to over 15 per cent by 2030.

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Brains behind Shell’s iconic Brent bid final farewell

One of the brains behind an iconic piece of the North Sea oil and gas landscape will have a last chance to say goodbye before it is dismantled for good.

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Shell’s Brent Delta platform was a major part of offshore infrastructure for more than 40 years.

But, last month, the top was removed from the waters, leaving its legs behind, and transported to Hartlepool as part of the decommissioning process.

The huge 24,000 tonne topside, which weighs the same as the Empire State Building, is currently being stored in an Able UK’s shipyard, where it is waiting to be taken apart and recycled.

However, Shell gave some of its former employees the chance to bid farewell to the platform, which generated more than £35billion over its four decades.

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Oil Majors Snatch Up Mexican Oil Blocks

By Nick Cunningham – Jun 20, 2017, 4:00 PM CDT

Mexico hosted another oil auction on Monday, auctioning off shallow water oil and gas blocks to international companies. The auction was the latest in a series of offerings related to the country’s historic energy reform, which opened up Mexico’s energy sector to private investment.

The latest auction had modest hopes, as the blocks on offer were in shallow water areas, far from the much more sought after deepwater blocks near the U.S. maritime border. But the results exceeded expectations, with a handful of oil majors jumping into the fray. 

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Norway opens up record 93 blocks for Arctic oil exploration

Norway opens up record 93 blocks for Arctic oil exploration

by: , Nordic Correspondent: 21 June 2017

Norway has infuriated environmental groups by opening up a record number of blocks in the Arctic for oil exploration. Environmental groups, emboldened by their success ending Royal Dutch Shell’s drilling off Alaska, are stepping up protests against Oslo. 

FULL FT ARTICLE

Oil firms could waste trillions if climate targets reached: report

By Ron Bousso | LONDON

Oil giants including Exxon Mobil and Royal Dutch Shell risk spending more than a third of their budgets by 2025 on oil and gas projects that will not be feasible if international climate targets are to be met, a thinktank says.

More than $2 trillion of planned investments in oil and gas projects by 2025 risk becoming redundant if governments stick to targets to lower carbon emissions to limit global warming to 2 degrees celsius, according to a report by the Carbon Tracker thinktank and a group of institutional investors.

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Shell suspends some well operations in U.S. Gulf ahead of storm

Shell on Tuesday said it had suspended some well operations in the U.S. Gulf of Mexico ahead of a potential tropical storm, but that production was currently unaffected.

The company said personnel remain offshore but flights from heliports in central Louisiana have been suspended.

(Reporting by Liz Hampton; Editing by David Gregorio)

SOURCE

Exxon, BP and Shell back carbon tax proposal to curb emissions

Exxon, BP and Shell back carbon tax proposal to curb emissions

Oliver Milman: Tuesday 20 June 2017

In a full-page newspaper ad on Tuesday, the companies called for a “consensus climate solution that bridges partisan divides, strengthens our economy and protects our shared environment”. Exxon and the others were listed as founding members of the plan… “ExxonMobil will try to dress this up as climate activism, but its key agenda is protecting executives from legal accountability for climate pollution and fraud,” said Naomi Ages, senior climate campaigner at Greenpeace USA. “A nicely worded public relations exercise is no cure for decades of deception.”

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Shell Nigeria considering investment in gas project in Niger Delta

Tue Jun 20, 2017 | 7:30am EDT: Shell is considering whether to invest in a gas project in Nigeria’s southern Niger Delta energy hub, the managing director of the local unit said on Tuesday. Osagie Okunbor, managing director of Shell Petroleum Development Company of Nigeria (SPDC), said the project under consideration would have a capacity of 300 million cubic feet and would be located in the city of Asa.

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Total and Shell win block in Mexico shallow water oil auction

Mon Jun 19, 2017 | 4:07pm EDT

A consortium comprising France’s Total (TOTF.PA) and Royal Dutch Shell (RDSa.L) won the 15th shallow water oil and gas block put up for auction on Monday, the Mexican oil regulator said.

Block 15 lies off the southern Gulf coast state of Campeche, and includes estimated prospective resources of up to 496 million barrels of oil over an area of 375 square miles (972 sq km).

(Reporting by Adriana Barrera)

SOURCE

Qatargas to deliver up to 1.1 mln tonnes of LNG per year to Shell


Ben van Beurden, Shell’s chief executive officer, said. “We look forward to working with Qatar Petroleum to increase the availability of LNG as a fuel for transport.”

Sat Jun 17, 2017 7:09am GM

DUBAI, June 17 (Reuters) – Qatargas said on Saturday it had signed a sales and purchase agreement with Shell for the delivery of up to 1.1 million tonnes of liquefied natural gas (LNG) per year for five years.

The agreement will start in January 2019 and will be for the supply of LNG from Qatar Liquefied Gas Company Limited (4) (Qatargas 4), a joint venture between Qatar Petroleum which holds 70 percent and Shell with the remaining 30 percent.

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Royal Dutch Shell Gets EU OK to Sell Northern North Sea Petroleum Ops to Chrysaor

June 16, 2017, 11:01:44 AM EDT By MT Newswires

Royal Dutch Shell ( RDS.A ) American depository shares were higher over 1% on Friday after the European Commission said it has cleared the sale of the company’s Northern North Sea petroleum business to Chrysoar Holdings Limited, part of US-based investment fund EIG Global Energy Partners.

“The Commission concluded that the proposed acquisition would raise no competition concerns given the very limited overlap between the companies’ activities and the presence of strong competitors,” the Commission said.

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European Commission approves Shell’s $3.8 billion North Sea sale

Friday 16 July 2017

The European Commission approved on Friday Royal Dutch Shell’s (RDSa.L) $3.8 billion sale of North Sea oil and gas assets to private equity-backed Chrysaor.

“The Commission concluded that the proposed acquisition would not raise competition concerns, because of its limited impact on the market structure,” the Commission said in a statement.

Shell welcomed the “important milestone” toward the completion of the deal which is expected in the second half of this year.

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OEMs join with Shell and Bosch to launch ‘FindAdBlue’

By | 15 June 2017

Several car manufacturers are working with Bosch and Shell, together with Integer Research Ltd, to launch a website – www.FindAdBlue.com – designed to help diesel engine drivers to find gas stations with AdBlue pumps.

The FindAdBlue partners are Audi, Bosch, Mercedes-Benz, Opel, Shell and Volkswagen. AdBlue is a vital ingredient in SCR technology  – applied to most Euro 6 compliant diesel engines – that can help counter the suggestion that the latest diesel engines produce vast quantities of harmful emissions.

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Shell to cash in $10bn from divestments in second half

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Biraj Borkhataria of RBC Capital Markets said the influx should go towards reducing the oil major’s debts and act as a clear catalyst for outperformance.

The Anglo-Dutch energy giant’s net debt currently stands about $72billion and Shell wants to shave off about $20billion to reduce gearing − the level of a company’s debt related to its equity capital − to around 20%.

Shell is in the midst of a push to sell $30billion worth of assets between 2016 and 2018 to rebalance its books following its takeover of BG Group.

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Shell found to be in civil contempt of court orders in relation to Rossport lands

Wednesday, June 14, 2017 – 05:46 pm

The Supreme Court has found Shell E & P Ireland was acting in civil contempt of court orders when it entered nine years ago onto commonage lands at Rossport located on the modified route for the Corrib gas onshore pipeline, writes Ann O’Loughlin.

A three judge Supreme Court yesterday (wed) overturned as “incorrect” a 2010 High Court finding that a November 2007 order of District Judge Mary Devins prohibiting Shell’s entry onto the commonage, except in accordance with the Gas Act 1976, did not prevent Shell entering onto the commonage after acquiring a 1/62nd share of the land.

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UK Government pays Shell £112m tax rebate despite oil giant making billions in profits

The UK Government handed Shell a £112m tax rebate last year, despite the oil giant making billions of pounds in profits.

Most of the payment from HM Revenue and Customs is a contribution towards Shell’s costs for decommissioning its North Sea oil and gas fields. It follows a similar payment of £85m in 2016.

The figures highlight how the North Sea has transformed from being a cash cow for the Government over four decades, to being a drain on the nation’s finances, as the remaining oil has become unprofitable to extract.

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Supreme Court rules Shell acted in contempt over Corrib land access

 14 June 2017: 19.15pm

The Supreme Court has found Shell E & P Ireland was acting in civil contempt of court orders when, nine years ago, it entered on to commonage lands at Rossport located on the modified route for the Corrib gas onshore pipeline.

A three-judge Supreme Court on Wednesday overturned as “incorrect” a 2010 High Court finding that a November 2007 order of District Judge Mary Devins prohibiting Shell’s entry onto the commonage, except in accordance with the Gas Act 1976, did not prevent Shell entering on to the commonage after acquiring a 1/62nd share of the land.

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Company fined €300,000 over death of worker at Corrib gas tunnel

14 June 2017

A GERMAN CIVIL engineering company has been fined €300,000 over the death of a contractor in 2013.

Wayss and Freitag Ingenieurbau AG contractor Lars Wagner, who worked for Herrenknecht AG, was killed on 8 September 2013 at the Mayo project.

He received fatal head injuries when a pipe he was working under collapsed on top of him as a result of an overpressure event in the pipe system.

The accident occurred in the gear chamber of a tunnel boring machine that was constructing the tunnel. Wagner was engaged in maintenance activity at the time of the accident.

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Shell Sees Ability to Manage Risk Giving Edge in Offshore Wind

Royal Dutch Shell Plc, Europe’s most valuable oil company, expects its expertise in managing risk will make it a market leader in developing the clean-energy industry.

Offshore wind projects are attracting billions of dollars of investment and will become “the energy backbone” for European countries from Germany to the U.K., said Mark Gainsborough, Royal Dutch Shell Plc’s head of new energies. 

Oil companies have a natural advantage in that business, since they have spent decades learning how to manage financial, political and project-development risks, he said. That gives them an edge over renewable energy developers, who prefer to pin down long-term power-purchase agreements or government support before moving forward. As the renewables industry shifts to more subsidy-free projects, it may be the established oil companies that can handle the gambles that come with competing at market prices.

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Shell’s report says it has ‘zero tolerance’ on bribery and corruption

Greg Russell: 13 June 2017

OIL giant Shell paid out more than $15 billion last year to the governments of countries where it or its subsidiaries are involved in upstream operations, sometimes known as the exploration and production (E&P) sector.

A report published in The Hague yesterday detailed payments in 31 countries totalling $15,064,478,257 (£11,814,987,258) – down from $21,840,825,287 (£17,132,492,852) in previous years.

It was Shell’s second report under UK Government regulations covering oil and gas, mining and logging of primary forest activities. It lists only payments made by the company and not those made by entities over which it has no control.

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Shell got £111m UK Treasury tax credit in 2016

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Shell paid more than $55.6billion (£43.7billion) to governments around the world in 2016, but got a sizeable rebate from the UK Treasury, the oil major revealed today.

The group, which is headquartered in London and the Netherlands, received a tax credit of £111million from the UK government last year primarily as a result of North Sea decommissioning costs.

About £90million worth of UK tax credits were linked to the Brent field and other northern North Sea projects.

Earlier this year, Shell submitted its plans for decommissioning Brent, a process expected to take about a decade.

In May, the Brent Delta topside was delivered to Able UK’s yard in Hartlepool for scrapping.

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Shell gets $142m tax refund in UK as decommissioning bills mount

MARK WILLIAMSON: 14 June 2017

ROYAL Dutch Shell has revealed that it was refunded $142.5 million tax in the UK last year, in a development that highlights the scale of the bills the government will face as North Sea fields run dry.

Around $116m of the refund appears to be due to the relief provided to Shell for the costs of decommissioning work completed on the giant Brent field north east of Shetland.

The first of four platforms used on the field was shipped to Hartlepool on a giant vessel earlier this month in a move that marked the end of an era. Brent became one of the first North Sea fields to go into production in 1976.

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Gov. Tom Wolf tours Shell cracker plant site, impressed by speed and scale of work

POTTER TWP. — Pennsylvania Gov. Tom Wolf is impressed by the speed and scale of the work being undertaken by the workforce building Shell Chemicals’ $6 billion ethane cracker plant.

Wolf toured the 300-acre Potter Township site Tuesday morning, the first time he’s been back since November. The governor said the site has been transformed since then as thousands of workers prepare the land for construction, which is slated to start later this year.

The governor spent nearly two hours touring different aspects of the site, but said he was most impressed by the quality of the workforce and the fruits of their labor.

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Polluted-Water Case Against BP and Shell Revived

ADAM KLASFELD: 

MANHATTAN (CN) — No longer protected by its deals with California prosecutors, BP and Shell must face another lawsuit alleging that its underground storage tanks continue to pollute Orange County’s groundwater with a toxic gasoline additive.

The British and Dutch oil giants were named among the dozens of fossil-fuel companies in hundreds of lawsuits over the chemical methyl tertiary butyl ether (MTBE).

Used to raise the oxygen level in gasoline, MTBE is banned by more than half of the states in the nation. The Environmental Protection Agency has flagged it as a possible human carcinogen at high doses.

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Malabu Deal: Court adjourns case against Adoke, Etete, Shell to October 26

13 June 2017

The case against former Attorney-General of the Federation and Minister of Justice, Mohammed Adoke, a former Minister of Petroleum, Dan Etete; oil giants, Shell, Eni and four others has again been adjourned to October 26, 2017.

The Economic and Financial Crimes Commission, EFCC are arraigning the accused for the illegal sale of the oil bloc, OPL 245.

OPL 245 is considered the richest in Africa, estimated to contain about 9 billion barrels of crude.

The adjournment was made known by the prosecutor, Johnson Ojugbane who stated that most of the accused are outside the country.

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Royal Dutch Shell received a huge UK tax credit due to North Sea decommissioning costs

Royal Dutch Shell received a huge UK tax credit due to North Sea decommissioning costs

Courtney Goldsmith: Tuesday 13 June 2017 3:00pm

Royal Dutch Shell paid over $55.6bn (£43.7bn) to 31 governments last year, but in the UK it received a tax credit as a result of decommissioning costs, according to a report.

Shell received a $142.5m tax credit in the UK primarily for decommissioning costs in its North Sea business, according to the oil major’s report on payments to governments where it and its subsidiaries have upstream operations.

The firm paid $8.17bn to the UK government in fees.

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Shell payment disclosures welcomed, but with caveats

June 13 (UPI) — Required transparency disclosures from Royal Dutch Shell are welcomed, but the disclosures are not widespread, advocates said Tuesday.

Shell released details on payments made to more than two dozen governments in countries where it does business. The disclosure obliges with requirements made by the British government in 2014.

“Shell believes that transparency is an essential tool in building trust in tax systems,” Chief Financial Officer Jessica Uhl said in a statement. “Society expects clarity on the revenues that extractive industries pay to governments and at the same time expects governments to be open about the revenues they receive and how they use these funds.”

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Court orders Shell to pay N122b damages for oil spill

The counsel to Shell, Mr. Olawale Akoni (SAN), argued that Shell was not given fair hearing. .PHOTO: aljazeera.com

By Kelvin Ebiri (South-South Bureau Chief)   |   12 June 2017

The Court of Appeal in Port Harcourt has ordered Shell Petroleum Development Company (SPDC) to pay N122 billon as damages to Ejama-Ebubu community in Eleme Local Government Area of Rivers State for crude oil spillage.

Justice Ali Abubakar Gumel dismissed Shell’s appeal for failure to file a competent brief of argument to support or proffer arguments in her suit.

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Support integrity fund against state capture, says Shell boss

Bonang Mohale. Picture: BUSINESS DAY

12 JUNE 2017 – 07:48 CLAUDI MAILOVICH 

Bonang Mohale, chairman of Shell SA and deputy chairman of Business Leadership SA, has called on business to invest in an integrity fund that would support activities to put the country on a different path.

Mohale made the call while presenting the chairman’s report at the Directors Event in Sandton on Friday. His appeal came amid mounting allegations about state capture involving President Jacob Zuma, his son Duduzane, the Gupta family and other prominent people.

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BP and Shell profits under renewed pressure as oil price hits 2017 low

By HARVEY JONES:

Crude slumped last week after a shock rise in US stockpiles, up 3.3million barrels to 513million, according to the Energy Information Administration (EIA). 

Brent crude slipped to about $48 a barrel, its lowest level since December, and analysts said it could go sharply lower. 

Crude dipped below $27 a barrel in January last year and Chris Beauchamp, chief market analyst at online trading platform IG, said a repeat of those levels is a distinct possibility: “Crude tends to overshoot on both the upside and the downside.”

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Nigerian output to surge after dodging OPEC cuts

by Bayo Okoya – Delta Analytics Lagos: 8 June 2017

In a boost to Nigerian oil production, Royal Dutch Shell on Tuesday lifted its force majeure on exports of Forcados crude oil shipments. The force majeure, which allows companies to miss contractual obligations as a result of events out of their control, was imposed on 21 February 2016 following militant attacks.

Nigeria was recovering from attacks which had seen its output drop by over a third in 2016 due to militant attacks, from a peak of 2.2 million barrels per day (bpd). With the Forcados terminal back on track, shipments are set to average around 250,000 barrels a day with output will be set to increase by around 10 per cent, bringing the output of Africa’s largest economy up to around 2 million barrels per day (bpd).

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Shell: step up building huge North Sea offshore wind farms

June 9, 2017

Wind energy not only has the potential to develop into the most important sustainable energy source, but it is also the cheapest means of generating power, according to Mark Gainsborough, head of Royal Dutch/Shell’s new energy division.

Gainsborough said the current generation of North Sea wind farms are too small. Speaking at a wind energy meeting in London earlier this week, he made a plea for larger cross-border offshore wind projects, the Financieele Dagblad said on Friday.

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Energy Cos. Dodge Oil Price Manipulation Suits

Energy Cos. Dodge Oil Price Manipulation Suits

Law360, New York (June 8, 2017, 6:44 PM EDT) — A New York federal judge on Thursday nixed multidistrict litigation complaints by derivatives traders and landowners alleging a slew of energy companies manipulated the price of North Sea Brent crude oil and Brent crude futures, saying they haven’t sufficiently linked the activity to any alleged economic harm they suffered. U.S. District Judge Andrew L. Carter said that the antitrust claims against affiliates of BP PLC and Royal Dutch Shell PLC, as well as other energy firms, can’t be sustained because the traders and owners of U.S….

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Nigeria’s Forcados Oil Comes Back in Fresh Blow to OPEC Cuts

Royal Dutch Shell Plc lifted restrictions on exports of a key Nigerian crude oil, 472 days after imposing them following militant attacks. The extra flows alone amount to about 20 percent of the supply OPEC has pledged to cut from world markets.

Europe’s biggest oil company ended a force majeure of Forcados crude oil shipments at 4 p.m. London time on Tuesday, a spokesman said. The measure, which allows companies to miss contractual obligations, was imposed on Feb. 21 last year. Shipments this month will average about 250,000 barrels a day, according to a loading program obtained by Bloomberg.

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Gazprom and Shell CEO’s sign JV agreements

By New Europe Online/KG

Royal Dutch Shell and Russian gas monopoly Gazprom have signed two agreements on the Baltic liquefied natural gas (LNG) project.

Gazprom CEO Alexey Miller and Shell CEO Ben van Beurden signed the agreements at the St. Petersburg International Economic Forum 2017 on June 3.

The first agreement to sign a joint venture, which will secure financing for and carry out the design, construction and operation of the LNG plant in the Leningrad Region. Based on that concept, Gazprom and Shell will take further steps in the implementation of the Baltic LNG project.

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Shell diverts U.S. LNG cargo to Dubai after Qatari diplomatic row

Thu Jun 8, 2017

Royal Dutch Shell (RDSa.L) has sent a replacement cargo of liquefied natural gas (LNG) from the United States to Dubai, shipping data shows, after a diplomatic row disrupted typical trade routes from Qatar, the world’s biggest producer.

Shell has a deal to supply the Dubai Supply Authority (DUSUP) with LNG which it typically sources from Qatar because of its proximity.

But bans on Qatari vessels entering ports in the United Arab Emirates, imposed after top Arab powers severed diplomatic and transport links with Qatar on Monday, meant it had to source the LNG from elsewhere.

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